Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PHP916.495 billion as of 30 June 2022. Of this amount, actual collection amounted to PHP706.475 billion.

Privatization Proceeds Generation and Collection
As of 30 June 2022
(In PHP Billion)

Assets Financial Bids Collected
Generating Power Plants 164.029 164.029
IPPA Administration 482.499 341.045
Transmission Concession 260.543 191.977
Decommissioned Plants    0.524    0.524
Other Assets/Priva-Related     8.900     8.900
Total 916.495 706.475

For the generating assets, the amount generated consists of financial bids based on Schedule C of the Asset Purchase Agreement (APA) and interest earned from deferred payments while for IPPA Appointments, the amount generated consists of monthly payments and generation fees under the IPP Administration Agreements.

For the TransCo Concession Fee, the amount generated is net of the final adjustment to Project Under Construction (PUC) and Initial Working Capital (IWC).

Total collections of PHP706.475 billion as of June 2022, were exclusively utilized for the liquidation of financial obligations amounting to PHP706.06 billion.

Privatization Proceeds Utilization
As of 30 June 2022
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment   57.62
Regular Debt Service 451.83
BOT Lease Obligations 196.60
  Subtotal 706.06
Other Privatization-Related Expenses    4.82
Total 710.87

USD1:PHP55.0210 (BSP Guiding Rate dated 30 June 2022)

* Power receivables were used to augment funds for debt payment and other expenses